What is necessary for the use of land is not its private ownership, but the security of improvements. It is not necessary to say to a man, ‘this land is yours,’ in order to induce him to cultivate or improve it. It is only necessary to say to him, ‘whatever your labor, or capital produces…

In my last two blog posts, I responded to Lynn Stuart Parramore’s article titled How Piketty’s Bombshell Book Blew Up Libertarian Fantasies. At the end of the second one, I promised an explanation of the economic theory I used to critique her article. This post will be a brief introduction to said economic theory. Let’s…